Opened practice account while ago. Up and Down, Up and Down. See millions of books and systems and bots, etc. Buddy of dads who was a floor trader in CBOE claims very few make consistent longterm money trading Forex. Old fashioned guy though. Can and do some of you make longterm $$$ trading Forex (and this question is not targeted toward the few forex sales people in this forum trying to get me make a deposit with their affiliated broker saying you can make hand over fist money trading forex).
Thanks in advance.
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To remove first post, remove entire topic.
Opened practice account while ago. Up and Down, Up and Down. See millions of books and systems and bots, etc. Buddy of dads who was a floor trader in CBOE claims very few make consistent longterm money trading Forex. Old fashioned guy though. Can and do some of you make longterm $$$ trading Forex (and this question is not targeted toward the few forex sales people in this forum trying to get me make a deposit with their affiliated broker saying you can make hand over fist money trading forex).
Wall and myself do pretty good..was just hard to get anybody else in the thread...i keep strange hrs and it wasnt much fun trading and posting comments to an empty forum..
Whats ur trading style,or what do you look for,indicators and so on?
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Wall and myself do pretty good..was just hard to get anybody else in the thread...i keep strange hrs and it wasnt much fun trading and posting comments to an empty forum..
Whats ur trading style,or what do you look for,indicators and so on?
I check in on your threads all the time, just havent had the time to get into what you guys are doing yet. I really enjoy following and soon will be getting some time to get my feet wet. Keep up the great work man!
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Hey Bucknuts,
I check in on your threads all the time, just havent had the time to get into what you guys are doing yet. I really enjoy following and soon will be getting some time to get my feet wet. Keep up the great work man!
Diver...I opened a practice account awhile ago after watching Buck and Wall for a few months too. I have zero experience as far as trading and form of equities. But I have learned to study charts more so than listen to the fundamentals. I like doing the Technical Analysis and keep it really really simple and that way I don't get confused of distracted from media and what not. Price is Price and if you use a FEW Indicators and Oscilators (RSI, Slow Stoch, 20 day Simple Moving Average and maybe the MACD for confirmation) you can achieve the most simple entry and exits points. Plus, keep in mind you need to back that up with using a time frame of either 1hr or 4hr or daily chairts to reduce the volatility.But that has just been my experience. Put the odds in your favor by trading one pair at a time and you can play it both ways if you like. I have learned that trying to do too much will definitely keep you too occupied. This simple approach works more me. Keep it as simple as possible.And one last thing, TA can be used for all types of securities...stock, Forex, metals, futures...TA makes pretty clear a bargain vs. overpriced which is the objective of Forex trading.
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Hello Gentlemen...!!!
Diver...I opened a practice account awhile ago after watching Buck and Wall for a few months too. I have zero experience as far as trading and form of equities. But I have learned to study charts more so than listen to the fundamentals. I like doing the Technical Analysis and keep it really really simple and that way I don't get confused of distracted from media and what not. Price is Price and if you use a FEW Indicators and Oscilators (RSI, Slow Stoch, 20 day Simple Moving Average and maybe the MACD for confirmation) you can achieve the most simple entry and exits points. Plus, keep in mind you need to back that up with using a time frame of either 1hr or 4hr or daily chairts to reduce the volatility.But that has just been my experience. Put the odds in your favor by trading one pair at a time and you can play it both ways if you like. I have learned that trying to do too much will definitely keep you too occupied. This simple approach works more me. Keep it as simple as possible.And one last thing, TA can be used for all types of securities...stock, Forex, metals, futures...TA makes pretty clear a bargain vs. overpriced which is the objective of Forex trading.
I should have obviously mentioned this as well. Operating at the extremes helps make things so much clearer. Example, on a 4hr or daily chart, look at the EUR/USD, the most popular pair, tend to confirm one another on the best entry and exit points when they are in the overbought and oversold levels. It may take a lot of patience, a few days or maybe a couple weeks for your one trade to start and end. But wouldn't you rather know you got in at a pretty good price and sold at a good level and still be able sleep at night???
Or you could use one of the most simple techniques: buying when the pair crosses AND CLOSES above the 20 day moving average and then closing out the trade when it moves conversely back through the 20 MA. Those trades use momentum pretty decently and are far less volatile.
HAPPY BELATED NEW YEAR TO ALL
Wall, Buck, ....love the new avatars!!! Hilarious.
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Diver...
I should have obviously mentioned this as well. Operating at the extremes helps make things so much clearer. Example, on a 4hr or daily chart, look at the EUR/USD, the most popular pair, tend to confirm one another on the best entry and exit points when they are in the overbought and oversold levels. It may take a lot of patience, a few days or maybe a couple weeks for your one trade to start and end. But wouldn't you rather know you got in at a pretty good price and sold at a good level and still be able sleep at night???
Or you could use one of the most simple techniques: buying when the pair crosses AND CLOSES above the 20 day moving average and then closing out the trade when it moves conversely back through the 20 MA. Those trades use momentum pretty decently and are far less volatile.
HAPPY BELATED NEW YEAR TO ALL
Wall, Buck, ....love the new avatars!!! Hilarious.
Wallis right,most people fail trying to buy/sell to many lots from the start..legging into a position will give you wiggle room to survive if a pair moves against you..
I love the forex market..i look at the charts daily..drawing lines looking at MAs...just a few days ago Wall and i sent some PMs back and forth talking about EU...Wall had a short and was waiting for 1.29..you could see clearly on the chart that a test of 1.28s was coming..actually not sure if Wall closed it out or not but he had held this for a few months,and it paid off
We need to start posting more again in our forex threads,i know we can teach people to do this and make $$$..i use a pretty simple system with the RSI,MAs and ADX...crosses of the +DI/-DI are good indicators for buys and sells using MAs as support/resis and RSI as a gauge to the steam left in the pair
The cool thing is that if you can use same strategy for trading stocks ive been trading forex and stocks using this method for a few years and making good money..CHK is my stock ive been buying and selling this stock for 10%+ and my last buy was just over $21...sadly i sold out near the end of Dec when the RSI spiked into the 90s and it looked as if the +DI had turned
Wall lets start another thread..
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Wallis right,most people fail trying to buy/sell to many lots from the start..legging into a position will give you wiggle room to survive if a pair moves against you..
I love the forex market..i look at the charts daily..drawing lines looking at MAs...just a few days ago Wall and i sent some PMs back and forth talking about EU...Wall had a short and was waiting for 1.29..you could see clearly on the chart that a test of 1.28s was coming..actually not sure if Wall closed it out or not but he had held this for a few months,and it paid off
We need to start posting more again in our forex threads,i know we can teach people to do this and make $$$..i use a pretty simple system with the RSI,MAs and ADX...crosses of the +DI/-DI are good indicators for buys and sells using MAs as support/resis and RSI as a gauge to the steam left in the pair
The cool thing is that if you can use same strategy for trading stocks ive been trading forex and stocks using this method for a few years and making good money..CHK is my stock ive been buying and selling this stock for 10%+ and my last buy was just over $21...sadly i sold out near the end of Dec when the RSI spiked into the 90s and it looked as if the +DI had turned
Yeah...lets get this going again. This is the only spot I watch any traders talking about forex. Other than using the Twitter account for the quick bits of info from some guys I follow.
I have watched Wall and Buck from afar for about 6 months. You guys always offer a lot of information for us novices. Looks like a good time and a good year to trade forex especially from the perspective of trading the USD pairs.
Buck, I need you to enlighten me on how your application of the ADX. What chart time frame do you like using it? What is your typical trade duration?
Bears fan huh? You would have loved this bike I had when I was a kid. 1979 I got a bike for Christmas that my parents got from the Sears in Springfield, Illinois....they had a whole line of NFL themed bikes....and I had...DA Bears! Banana seat, chrome frame and fat nobby tires...man it was cooooool!!!
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Yeah...lets get this going again. This is the only spot I watch any traders talking about forex. Other than using the Twitter account for the quick bits of info from some guys I follow.
I have watched Wall and Buck from afar for about 6 months. You guys always offer a lot of information for us novices. Looks like a good time and a good year to trade forex especially from the perspective of trading the USD pairs.
Buck, I need you to enlighten me on how your application of the ADX. What chart time frame do you like using it? What is your typical trade duration?
Bears fan huh? You would have loved this bike I had when I was a kid. 1979 I got a bike for Christmas that my parents got from the Sears in Springfield, Illinois....they had a whole line of NFL themed bikes....and I had...DA Bears! Banana seat, chrome frame and fat nobby tires...man it was cooooool!!!
person i use the ADX looking at 4hr and daily charts..most trades were a day or so..but ive been in a holding pattern for months with a few trades..got stuck in Chf and just been holding..using your margin you can work out of trades..ill start a new thred for trades
Does everybody here currently have a practice account?
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person i use the ADX looking at 4hr and daily charts..most trades were a day or so..but ive been in a holding pattern for months with a few trades..got stuck in Chf and just been holding..using your margin you can work out of trades..ill start a new thred for trades
Does everybody here currently have a practice account?
love for you guys to get this thread going. im just starting myself and have lots to learn
Same here. I follow these threads, just don't post much. I've been reading everything I can get my hands on for the last yr or so about Forex and always check these threads.
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Quote Originally Posted by misfits:
love for you guys to get this thread going. im just starting myself and have lots to learn
Same here. I follow these threads, just don't post much. I've been reading everything I can get my hands on for the last yr or so about Forex and always check these threads.
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